Homeowners insurance

The top five insurance companies have an average homeowners market share of 9.15% as of December 31, 2024.

California's insurer of last resort is careening toward another hot and dry summer with its coffers already strained. That's raising the prospect that state residents will need to pick up the bill for more funds.

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First came a dry spell that parched the land, then a spark, followed by some wind. Suddenly, swaths of South Carolina were consumed by voracious flames.

The National Flood Insurance Program, estimated to cover over 4 million homeowners, is set to lapse next Friday along with the federal budget.

The jump, which represents an ICE Mortgage Technology survey high, reflects the past cost of natural disasters like hurricanes in the Southeast.

California leads the nation with over 1.5 million at-risk properties, but many threatened homes sit east including $68 billion worth of Florida real estate.

The rapid rise in the cost of both insurance coverage and taxes leaves close to half of homeowners worried about their ability to make payments.

Many homes that burned in the Eaton Fire lay outside the boundaries of state- or local-designated "very high" fire hazard severity zones, Bloomberg Green found after analyzing inspection reports by the California Department of Forestry and Fire Protection, or Cal Fire, for more than 20,000 residential properties in areas affected by the recent wildfires.

Between the estimated damages in Los Angeles and rising home insurance prices, policyholders are left wondering how the market will fare in 2025.

As homeowners insurance becomes expensive and hard to find, mortgage loan officers should work closely with insurance agents, said Travis Hodges of Viu by Hub.

The latest Insurance Personal Lines Trends and Perspectives Report from TransUnion.

A $1 billion assessment announced Tuesday for California's FAIR Plan, the state-mandated insurer of last resort, is expected to drive up premiums as companies will likely pass some of the costs onto homeowners.

Federal Reserve Chair Jerome Powell said insurance companies and banks are already pulling out of disaster-prone areas, which could pose problems.

California's insurance commission plans to impose a $1 billion assessment on private insurers to shore up the FAIR Plan.

The FEMA-operated program has over 4.7 million policies in force, and lawmakers have kept it intact via dozens of short-term extensions since 2017.

The nation's largest homeowners insurance providers imposed rate hikes in double-digit percentages last year, led by Farmers' 53.5% increase in Maryland.

Digital Insurance gathered comments from insurance professionals about what's ahead.

The insurance market going into the Jan. 7 catastrophe already had been hit with non-renewals and cancellations -- and an overburdened state-supported insurance plan. A Morningstar analyst said the state insurance commissioner's reform strategy could have turned it around but now faces new obstacles.

Los Angeles is bracing for critical wildfire conditions again as dry winds scour Southern California.